All Forum Posts by: Lesley Resnick

Perhaps I have grown cynical. I generally take anything elected officials with a grain of salt. I have no confidence in any of them. These are the people that brought you the last housing crisis, FEMA, deficit spending, endless wars in the desert a 55,000 page tax code.

The logistics of delivering a million payments based on an application, that yields different amounts and rejects non-qualified businesses.  Get comfortable, this could take a while.

They need 3 weeks to send out direct payments to accounts on file with the irs?

I personally am a big fan of physical contact and believe it is part of the human experience.  There is something inherently human about touch.  There is a lot of research around infant development and human touch.

People on BP have been excited to get prices from the 2008 time frame.  For someone to get a fire-sale deal someone else must be hurt and hurt badly.  This is not a zero sum game.  I never root against the home team.  However, I will play the cards that are delt. There are deals and more coming as long as you are not the person who was hurt.

This will pass.  It will have to be a Pharma solution.  The our economy will heal itself as it always has.

The conspiracy theory people are hard at work.  

I was told about the free masons and how they have symbols all around Washington DC.  OK, it was founded in 1790, so they are still in the planning phase for over 200 years and late this century or the next, look out, they are taking over.

This virus was either the work of the Chinese government or the US government.  Wu Han is a major manufacture of antibiotics, you do the math?  What does that even mean?  Unfortunate situation, but an inside job? I am not convinced.

Any one have any other conspiracy theories they have heard?

Not to dampen spirits, but Florida is now on lock down as of tomorrow.  The governor can no longer resist the pressure.  

What do you think the generational fall out will be?  This is going to be a defining moment for many young people.  For example, my grandmother was a depression baby.  At no time did she have less than 10 jars (glass) of mayonnaise, mustard caned tuna and so on.  She had a pantry that was half the size of her basement.  She would tell you that she was prepared for a food shortage.  

Does the pandemic create a generation of germ-a-probes?  Does social distancing and not touching others (handshake fist bump) as a greeting become the norm?  

I and my fellow Sunshine State citizens join the rest of the country in their "voluntary" incarceration.  As of Friday we are on lock down.  I still have 4 vacant rentals and do not want to just take someone to fill the space, only to evict them in 2 months.   

Intersting deal.

How much did you put down?

How much reno will it take to get to 190-210k?

Is there a tenant in place?

Try this link 

https://assets0.biggerpockets....

What browser are you using?

I posted it using safari.   

I completely agree that all indicators are heading down.  My point is how quickly it all changed.  You make a good point that most retail transactions are 30-45 days and the real drop may be after that time.

First and foremost, be safe and take care of your family's health.

SO, here is how I see it. This is a lousy time. It will end, "WE" collectively will survive and overcome this, "WE" always have. It seems like every decade or there is a shakeout. I may be aging myself, but I can identify 4 events. Fuel crisis in the 70s, stock market crash in '87, 9/11, great recession 2008. Regrettably, they are all different and were sudden in nature. We will see multiple type of crisis' again in our lifetime.  You don't have to like it, but you can not be surprised when it comes.  Stay positive and focused on the things you can control.

This is a health problem that is creating a financial one.  Fix the health problem and we are heading back up the ladder.  My crystal ball's batteries are low and I can not tell when it will end, only that it will.

This is not a crisis, it is a moment of untold opportunity.

Fear is ruling the day and it leads to poor or no decision making.

My Advice:

If you are in a secure financial place and have cash, YOU MUST WATCH THE RE MARKET CLOSELY and be ready to make a decision and buy when the right deal comes along.  This is no time for fear!  This is the time for BOLD and decisive actions.  You will look back on this moment and say what was I thinking?  I should have bought.... 

If you are financially vulnerable, Survive.  Do not put your head in the sand and wait it out.  Take action, there are many programs from the government as well as lenders that can help you. What you do now will allow you the opportunity to build the portfolio you deserve after this mess is sorted out.  You will need to be financially up right after this period. 

 DO NOT LET YOUR CREDIT SCORE DROP DURING THIS TIME, you will need it.

I am personally watching the market and have been seeing amazing deals.  I am waiting for my pitch and I am going to hit it out of the park.

Forecast FROM Jacksonville Florida - SUNNY & WARM, CLEAR SKYS AHEAD!

I have heard people say, “I can’t wait for the next crash so I can scoop up all the good deals”. It has made me cringe.  For you to get a fire sale deal, someone else has to be hurt and hurt badly.  There was this notion that other investors would be effected, but not me.  My bank would keep lending to ME.

Our business depends on liquidy and leverage,  When the banks come back to the table investment real-estate will be back.  People need a place to live.  There is always going to be a demand for what we do.  What is the volume or pricing, that is going to be debatable.